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USDCHF: Bears fall

Fundamental analysis:

USD/CHF remained volatile around 0.88377. UBS CEO: More staff is needed in the short term, not fewer. UBS will do everything in its power to avoid taxpayer losses. All options for the Swiss subsidiary of Credit Suisse are under consideration. The deal to buy Credit Suisse strengthens Switzerland's position as a financial centre. The Swiss economy depends on a strong financial center. The transaction with Credit Suisse is expected to be completed by the end of May, early June.

US dollar Swiss franc USDCHF - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum continues to fluctuate and fall, the short-term decline has not stopped, the market's bearish sentiment remains, the MACD indicator is in the bearish zone and fluctuates downward, and the RSI indicator is in the bearish zone and moves down;

Resistance: 0.88533 0.88639

Support levels: 0.88289 0.88200

Trading strategy: bearish below 0.88433, target 0.88289 0.88200
Alternative strategy: Bullish above 0.88433, target 0.88533 0.88639

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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